Wealth tax debate is a key day for French government as bill divides MPs

France's National Assembly recently turned down two significant proposals aimed at taxing the ultra-wealthy, which has sparked disappointment among advocates for economic equality. The rejected ideas included a 2 percent tax on assets exceeding €100 million proposed by economist Gabriel Zucman and a 3 percent tax on assets over €10 million from the Socialist Party. This decision is crucial as it reflects the ongoing struggle to address wealth inequality in France, raising questions about the government's commitment to fair taxation.

The debate over the 'Zucman tax' is heating up in the French National Assembly, as lawmakers discuss wealth taxation amid pressure from the Socialist Party for increased tax justice. Named after economist Gabriel Zucman, this proposed tax aims to address wealth inequality, but it has sparked significant division among MPs. Understanding this debate is crucial as it reflects broader discussions about economic fairness and the role of taxation in society.

In a significant development in the Louvre heist investigation, police have arrested five new suspects, including one believed to have been involved in the break-in. This comes eleven days after the initial theft, but unfortunately, the stolen jewellery has yet to be recovered. FRANCE 24's Antonia Kerrigan provides insights from the police commission, shedding light on the identities of those arrested. This case is crucial as it highlights ongoing efforts to combat art theft and restore stolen cultural treasures.

French lawmakers have taken a significant step by voting on amendments to next year's budget bill that aim to increase taxes on multinational corporations. This includes doubling the existing digital tax on global tech giants and introducing a minimum tax rate of 25% on profits earned in France. While this move reflects the government's intent to ensure fair taxation, the amendments face uncertainty as they may be challenged in the conservative-controlled Senate. This situation highlights the ongoing debate over corporate taxation in France and its implications for international businesses operating in the country.

The Premier League match between Tottenham and Chelsea is underway, with Spurs currently holding third place in the standings. Their position is secure for now, thanks to Manchester United's inability to secure a win against Nottingham Forest. This match is significant as it could impact the title race and the standings as the season progresses.

The Autumn Nations Series rugby match between England and Australia at Twickenham is set to kick off at 3:10 PM GMT, and it carries a special significance this year. Rugby World Cup winner Lewis Moody, who has recently been diagnosed with motor neurone disease, will deliver the match ball, marking an emotional moment for fans and players alike. This event not only showcases the spirit of rugby but also highlights the importance of supporting athletes facing health challenges, making it a memorable occasion for everyone involved.

In today's football updates, Arsenal secured a 2-0 victory over Burnley, while Nottingham Forest and Manchester United played to a thrilling 2-2 draw. These matches are significant as they impact the standings in the league, showcasing the competitive nature of the season. Fans are eager to see how these results will influence the teams' performances moving forward.

In a shocking development, a 38-year-old woman and another individual have been charged in connection with the infamous Louvre jewellery heist that captured global attention. This incident not only highlights the vulnerabilities of one of the world's most renowned museums but also raises questions about security measures in place to protect invaluable art and artifacts. As the case unfolds, it serves as a reminder of the ongoing challenges in safeguarding cultural heritage.

The Grand Egyptian Museum in Cairo is set to officially open on November 1, marking a significant milestone for Egypt. This grand inauguration will feature around 80 international delegations, including French President Emmanuel Macron, highlighting the global interest in Egypt's rich history. The museum aims to showcase the country's ancient treasures and promote cultural tourism, making it a pivotal moment for both national pride and economic growth.

China's recent announcement to loosen restrictions on Nexperia's auto chips is a significant development for the automotive industry, which has been facing production delays due to a shortage of these crucial components. With Nexperia unable to ship chips for weeks, many car manufacturers around the globe have been at risk of halted production. This move not only alleviates immediate supply chain concerns but also signals a potential recovery in the semiconductor market, which is vital for the ongoing transition to electric vehicles and advanced automotive technologies.